St. Louis Tax Law Blog

crumpled tax form mistake

People do make tax mistakes

Do you feel nervous when you do your taxes? Maybe you don’t want to pay someone to do it for you — or you can’t afford it — and yet you are well aware that no one ever taught you how to do your taxes. You just try to fill out the forms as well as you can, constantly worrying…

penalty notice stamped on paper

What costs will the IRS assess on your underpayment of taxes?

If you are like most Americans, you may get a little creative in your efforts to reduce your tax obligations and maximize the percentage of your annual income that stays in your accounts. Unfortunately, if you underpay your taxes because you get a little too aggressive with your attempt to avoid taxes, you may receive a notice of deficiency from…

tax audit stamp on tax return papers

Does a disclosure on tax forms lead to an audit?

Some people wonder if they submit the IRS form 8275 with their tax return that they will be subjected to an increased risk of audit, but this isn’t necessarily the case. There isn’t anything in the tax code that requires the IRS to audit returns based on the inclusion of this form. The form 8275 is used when there is…

income tax audit stamped on IRS form 1040

How to best prepare for a tax audit

The last thing you want to receive in the mail is a notice of a tax audit from the IRS. The more you read, the more concerned you’ll become with your future. While this is a scary time in your life, it doesn’t have to be. There are steps you can take to better understand the process, how to protect…

woman calculating invoices using tax software

Is tax software accurate?

In the United States, rather than having trained professionals do the taxes, the government just asks citizens to do it on their own — regardless of their level of education or understanding of tax laws. Everyone has to file by a certain date with their own paperwork. That goes for everyone from the finance professor at the local college to…

man surrenders to paperwork complications

Don’t let the IRS levy your property: Get help

When you owe money to the Internal Revenue Service, the worst thing you could do is ignore the bill. When you don’t make the necessary arrangements to settle your debt, the IRS may sell or seize your property. The IRS could take anything from you, like your: Home Wages Retirement accounts Boats Bank accounts Usually, people receive many notices and…